Emergin Purchase by Philips
Royal Philips Electronics announced their plans to purchase Emergin and published a news release to that effect. The transaction is expected to close during the fourth quarter of this year. The financial terms of the acquisition were not shared.
Emergin provides software for hospitals that transmits alarm signals for medical equipment. One component that Emergin software addresses is means to quickly access patient data gathered from monitors. Information is transmitted to providers using the Emergin solution via a personal communication device, with flexibility to integrate LED signs, pagers, PDAs, and the like.
Emergin will be integrated into Philips’s existing Patient Monitoring business unit. The acquisition will expand the range of product offerings for patient monitoring tools and services at Philips. As well, the components of the Emergin software will be integrated into monitoring products developed and manufactured by Philips. In addition, Philips will leverage the existing relationships that Emergin has with CIOs at healthcare institutions.
Emergin is a privately-held organization based in Florida, established in 1995. The organization has approximately 100 employees. Over the past three years, Emergin has approximately 50 percent year on year growth.
December 7, 2007 Related topics: Mergers & Acquisitions